Arecor Therapeutics PLC Grant of Options, PDMR Dealing (5231T)
25 November 2021 - 06:00PM
UK Regulatory
TIDMAREC
RNS Number : 5231T
Arecor Therapeutics PLC
25 November 2021
Arecor Therapeutics plc
("Arecor", the "Company" or the "Group")
Grant of Options, PDMR Dealing
Cambridge, UK, 25 November 2021: Arecor Therapeutics plc (AIM:
AREC), the biopharmaceutical group advancing today's therapies to
enable healthier lives , announces that on 24 November 2021, it
granted a total of 87,500 options under the Company's All Employee
Share Ownership Plan ("AESOP Options") and 75,000 options under the
Company's Long Term Incentive Plan ("LTIP Options") over new
ordinary shares of 0.1 pence each in the Company ("Ordinary
Shares").
The AESOP Options, which vest after 12 months, are exercisable
at GBP4.15, subject to continuous employment, and are exercisable
up to ten years from the date of grant. The LTIP Options are
exercisable at GBP0.01, subject to continued employment and the
meeting of certain performance conditions, and are exercisable up
to ten years from the date of grant. 40,000 of the AESOP Options
and 75,000 of the LTIP Options were granted to Lindsey Foulkes,
Chief Operating Officer and a PDMR of the Company. Following this
grant of options, Lindsey Foulkes holds 115,000 options over
Ordinary Shares of the Company.
The notifications below, made in accordance with the
requirements of the Market Abuse Regulation, provide further
detail.
For further information, please contact:
Arecor Therapeutics plc www.arecor.com
Dr Sarah Howell, Chief Executive Tel: +44 (0) 1223 426060
Officer Email: info@arecor.com
Susan Lowther, Chief Financial Officer Tel: +44 (0) 1223 426060
Email: info@arecor.com
Mo Noonan, Communications Tel: +44 (0) 7876 444977
Email: mo.noonan@arecor.com
Panmure Gordon (UK) Limited Tel: +44 (0) 20 7886 2500
(NOMAD and Broker)
Freddy Crossley, Emma Earl (Corporate
Finance)
Rupert Dearden (Corporate Broking)
Consilium Strategic Communications
Chris Gardner, David Daley, Angela Tel: +44 (0) 20 3709 5700
Gray Email: arecor@consilium-comms.com
Notes to Editors
About Arecor
Arecor Therapeutics plc is a globally focused biopharmaceutical
company transforming patient care by bringing innovative medicines
to market through the enhancement of existing therapeutic products.
By applying our innovative proprietary formulation technology
platform, Arestat(TM), we are developing an internal portfolio of
proprietary products in diabetes and other indications, as well as
working with leading pharmaceutical and biotechnology companies to
deliver enhanced formulations of their therapeutic products. The
Arestat (TM) platform is supported by an extensive patent
portfolio.
For further details please see our website, www.arecor.com
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Lindsey Foulkes
---------------------------------- -----------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status: Chief Operating Officer
---------------------------------- -----------------------------------
b) Initial notification/Amendment: Initial notification
---------------------------------- -----------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name: Arecor Therapeutics PLC
---------------------------------- -----------------------------------
b) LEI: 98450093D12I3A8DDD58
---------------------------------- -----------------------------------
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
-----------------------------------------------------------------------
a) Description of the financial Ordinary shares of 1 pence
instrument, type of instrument: each
Identification code: GB00BMWLM973
---------------------------------- -----------------------------------
b) Nature of the transaction: Grant of options over ordinary
shares
---------------------------------- -----------------------------------
c) Price(s) and volume(s): Exercise Price(s) Volume(s)
GBP0.01 75,000
----------
GBP4.15 40,000
----------
---------------------------------- -----------------------------------
d) Aggregated information:
* Aggregated volume: 115,000
N/A
* Price:
---------------------------------- -----------------------------------
e) Date of the transaction: 24 November 2021
---------------------------------- -----------------------------------
f) Place of the transaction: Outside of a trading venue
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